. . . that drove a 1984 Honda Accord. Definitely part of the rat race. A referre perhaps, a sponsor, I don't know. But, some stock brokers drive german cars, and new ones at that. This guy wasn't a dumb shit either. On the contrary he had something on the ball. And two years prior, when I'd joined this stock-broker, then a plumbing supply salesman, at a yacht club to crew his boat for a reagatta, he had been driving a new Land Rover.
As I sat in his office in '01 he explained that the life in sales had taken its toll. He'd grown tired of not being home with his wife and daughter. The Land Rover had been less than stellar. He'd bought a shit house in his hometown, put out his shingle, and started helping people plan for retirement. He's made a chunk, and needed more time to research the market, to know what to do with it. Why not use other's people's commisions to finance his studies. Win win.
I'm the kind of guy who is lazy with my retirement funds. I've actually resumed reading the statements, after a two year hiatus. It was just too painful. But, I stayed the course. Put away for a rainy day; think long-term. Hell, I was lazy, and scared. But maybe, just maybe, reversing this trend, and employing the austerity measures of my aquaintance is the answer.
First, learn more. I'm not too dumb. Maybe every other book, no every third, should be a financially insightful tome. Pull my head out of my ass, and put my nose to the investment grindstone.
Second, or maybe first. Tighten up. I'm worried about raising a self sufficient daughter. Bring on the Austerity. Noting like going without to teach you that you can go without. Simple pleasures!
Delayed gratification, signified in a mid-eighties Honda, may be the ticket. And, In fact, delayed gratification is the truest check-out from consumerism. I've got good dishes, good appliances, a decent work truck and enough surfboards to start a school. Stop buyings SHIT!! Start buying stocks? Bonds? Mutal Fund Shares? Treasury Bills? Real Estate? Naked Short Sales? I'll get back to you on the details. Or, as my highschool English teacher used to say. That's a really interesting question. Why don't you research it and get back to the class with a one page report!
Please send me a report when you find some answers. Investing and saving for little ones are daunting things to consider. But tightening up seems like the best first step. I'm going to start by exercising more and making more of my own food. If I exercise more and eat healithier, I will feel happier. Happy people spend less money. My biggest expense is food. Food that I shouldn't even be eating. $20 lunches. No body needs that. Certainly not me.
ReplyDeleteAnd while I would never discourage you from saving money, one thing you should be thinking about spending money on is a trip to Southern California. We'll try to keep it cheap though. Perhaps a camping trip to the Channel Islands?
http://www.nps.gov/chis/index.htm
Maybe some wine tasting?
Pete
Pedro,
ReplyDeleteThat does sound like a great investment. L. A. is on the radar, trust me. We will baby it up.
As far as research on saving for the little ones. I've been discouraged by several parenting books from any account that is in the child's name, as it will hinder grants and need based aid, and anything that is state specific.